Bitcoin’s price once again climbed higher on Tuesday and closed its daily session +$195.
The BTC/USD 1D chart below from holeyprofit shows that bitcoin’s price managed to hold and close above the 0.786 fib [$42,594.87] on Tuesday and bitcoin bulls are now seeking a return to the 1.272 fib [$48,445.37]. Bullish BTC traders have a secondary target of 1.618 [$52,640.29] which will be a major level to overcome if this upward rally is to be extended longer term.
Bearish BTC market participants are attempting to snap the recent success of bulls and reverse BTC’s price below the 0.786 with a secondary target of 0.618 [$40,516.25]. The third target to the downside for bears is 0.5 [$39,085.61].
Bitcoin bulls menage to reach $52k
Bitcoin’s Moving Averages: 20-Day [$39,818.57], 50-Day [$44,841.54], 100-Day [$51,017.52], 200-Day [$46,035.88], Year to Date [$40,803.36].
The Fear and Greed Index is 54 Neutral and +6 from Tuesday’s reading of 48 Neutral.
The Fear and Greed Index is 54 Neutral
BTC’s 24 hour price range is $42,900-$45,301 and its 7 day price range is $36,438-$45,301. Bitcoin’s 52 week price range is $29,341-$69,044.
The price of bitcoin on this date last year was $46,569.
The average price of BTC for the last 30 days is $40,242.
Bitcoin’s price [+0.45%] closed its daily candle worth $44,060 and in green figures for the third straight day.
Ether’s price just marginally failed to finish in green figures on Tuesday and snapped a streak of four consecutive green daily candle closes. Ether closed -$23.88 on Tuesday.
The ETH/USD 1D chart below from WillSebastian shows that Ether’s price successfully broke the 0.382 fib level [$3,131.64] and is working to successfully backtest that level for further data and confirmation that bulls are winning the battle with bears there. Bullish Ether traders have targets above at the 0.5 fib level [$3,454.38] and at the 0.618 fib [$3,777.11].
From the viewpoint of bearish Ether market participants, they’re aiming at pushing ETH’s price back below the 0.382 fibonacci level with a secondary target of 0.236 [$2,732.32]. A full retracement on Ether if bearish traders can successfully regain momentum is back at 0 [$2,086.85] on the daily timescale.
Ether’s bulls are winning the battle with bears
Ether’s Moving Averages: 20-Day [$2,860.74], 50-Day [$3,491.77], 100-Day [$3,728.94], 200-Day [$3,255.03], Year to Date [$3,010.30].
ETH’s 24 hour price range is $3,045-$3,220 and its 7 day price range is $2,590-$3,220. Ether’s 52 week price range is $1,353-$4,878.
The price of ETH on this date in 2021 was $1,769.
The average price of ETH for the last 30 days is $2,902.
Ether’s price [-0.76%] closed its daily candle on Tuesday worth $3,115.8.
XRP’s price marked-up on Tuesday and finished its daily candle +$0.045.
The third chart we’re analyzing today is the XRP/USD 1D chart below from SONN1C. There’s a potentially massive Inverse Head & Shoulders pattern forming on the daily time frame for XRP market participants to watch. If the pattern plays out to the upside, the eventual target for bullish XRP traders is 1 [$1.97].
If bearish traders are however able to negate the Inverse Head & Shoulders pattern and send XRP’s price out of its current structure, they’ll need to break the 0.382 [$0.85] firstly. Bearish traders will then shift their aim to 0.236 [$0.7] and below them the $.58 level to break out of the structure to the downside entirely with a fourth target of 0 [$0.51].
Inverse Head & Shoulders pattern forming on the daily time frame for XRP
XRP’s Moving Averages: 20-Day [$0.685], 50-Day [$0.786], 100-Day [$0.932], 200-Day [$0.939], Year to Date: [$0.711].
XRP’s 24 hour price range is $0.812-$0.912 and its 7 day price range is $0.596-$0.912. XRP’s 52 week price range is $0.404-$1.86.
XRP’s price on this date last year was $0.472.
The average price for XRP over the last 30 days is $.697.
XRP’s price [+5.38%] was worth $0.875 when it’s daily candle closed on Tuesday.
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